Le European stock exchanges are traveling on the rise in the aftermath of the Federal Reserve rate cut, following the rise seen in Tokyo andWall Street opens positively. The US stock markets were also boosted by the leap in Intel after the announcement that Nvidia acquired a stake in the group for $5 billion.
The 25 basis point reduction was expected and materialized with only one vote against, that of the Trumpian Stephen Miran, in favor of a more decisive cut of 50 points. The Fed signals two further possible interventions by the end of the year, but all eyes remain on labor market data and weekly unemployment benefits. As expected, the Bank of England confirmed the 4% reference rate.
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At Piazza Affari, banks continue to capture attention after two sessions under pressure. Unicredit is under the spotlight after CEO Orcel's statements, which identified Italy, Germany, and Poland as the countries where potential mergers or acquisitions could bring the greatest benefits to the credit institution. All eyes are on Mediobanca: The The board of directors of Piazzetta Cuccia has resigned, with the sole exception of Sandro Panizza, representing Delfin, after MPS reached 62,88% of the capital. The resignations will become effective at the meeting on October 28, which will appoint the new board until 2028. In the meantime, MPS will submit a proposal by October 3. the list of 15 candidates for the new council.
Among other featured titles, Prysmian e stm, supported by the rally in semiconductors after the rumors of the Financial Times on China halts purchase of Nvidia chips.
Lo spread between BTPs and Bunds rises slightly to 82 basis points, with the yield on the 10-year BTP at 3,5%. Friday 19 September is expected to Fitch's judgment on Italy's sovereign rating, currently BBB with a positive outlook.
On the foreign exchange market, theeuro rises above $1,18 after the overnight post-Fed decline. On the energy front, the Petroleum remains weak, with Brent at 67 dollars a barrel and WTI at 63 dollars, while gas remains stable above 32 euros/MWh.
